[Editor’s note: We’re bringing back price theory with our series on Price Theory problems with Professor Bryan Cutsinger. You can view the previous problem and Cutsinger’s solution here and here. Share your proposed solutions in the Comments. Professor Cutsinger will be present in the comments for the next two weeks, and we’ll again post his proposed solution shortly thereafter. May the graphs be ever in your favor, and long live price theory!]
Query:
Think about a shopper who consumer her cash revenue to buy solely two items: X and Y. Suppose the costs of those items double as does this shopper’s cash revenue. Consider: There will likely be no change within the portions of X and Y she purchases.
Share your questions and proposed options within the Feedback!
